Is this really you Wesbank???

Item: WesBank
Rating: 1

I financed 2 work vehicles last year through Wesbank. At the time I took a service plan, extended warranty and credit shortfall policy together with the financing. One of the vehicles was unfortunately written off almost 2 months ago. During the claim procedure the comprehensive insurance did not settle the full amount outstanding. As it was a work car with high mileage, the insurance company charged a higher excess than normal. Thinking that's OK as I have credit shortfall with Wesbank, this should be covered. BUT WHAT A SURPRISE I WAS IN FOR! I have been informed by a Wesbank call centre agent that Wesbank will NOT cover my credit shortfall. I was also told that I don't know how a contract works, because when Wesbank sells a credit shortfall policy, they do not have to inform/disclose the fact that if the excess with your insurer is more than R6000 they don’t pay anything towards credit shortfall!!!!! So now I have to pay the full credit shortfall. He went on to tell me that I shouldn't be in business because I don't know how contracts work. He informed me that it was perfectly OK for Wesbank not to disclose this detail to me when doing the deal, as it is buried deep in their Terms & Conditions. The Terms & Conditions to which he referred had not been available to me at the time of concluding the Wesbank deal over the telephone. Post scriptum The requirements for a valid contract, according to South African law, are: · Serious intention to conclude a contract; · Consensus or agreement; · Contractual capacity; · Lawfulness; · Formalities; · Possibility of a certain or ascertainable performance. When concluding car financing terms from Wesbank over the telephone (this is where they sell you credit shortfall insurance), they are under an obligation to disclose all material facts. In my opinion, informed by material facts which were not known to me at the time, my contract with Wesbank was invalid ab initio, and has therefore now become a “voidable contract”. The parties reached “Defective consensus caused by misrepresentation” and not the required “Consensus” in order to make it a valid contract. This is irrespective of any Terms & Conditions forwarded to me by Wesbank after concluding the deal via telephone. “Consensus” requires: The offer must be clear and unambiguous; complete; communicated to the offeree and be made with the intention that it will serve as an offer, that it may be accepted and that a valid contract will result therefrom. ADVICE TO THE PUBLIC: Boycott Wesbank for their shady business practices!!! I strongly advise everyone to check their T&C’s if they happen to have a credit shortfall insurance policy with any insurer, particularly Wesbank.

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